Novanta Inc. (NASDAQ:NOVT) CEO Matthijs Glastra Sells 7,500 Shares

Novanta Inc. (NASDAQ:NOVT) CEO Matthijs Glastra sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $179.70, for a total value of $1,347,750.00. Following the transaction, the chief executive officer now owns 56,382 shares of the company’s stock, valued at $10,131,845.40. This trade represents a 11.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Novanta Trading Down 0.9 %

NASDAQ NOVT opened at $168.19 on Friday. Novanta Inc. has a 12 month low of $137.82 and a 12 month high of $187.12. The company’s 50-day moving average price is $174.02 and its 200-day moving average price is $170.48. The stock has a market cap of $6.04 billion, a PE ratio of 100.71 and a beta of 1.29. The company has a current ratio of 2.79, a quick ratio of 1.81 and a debt-to-equity ratio of 0.61.

Novanta (NASDAQ:NOVT) last issued its earnings results on Tuesday, November 5th. The technology company reported $0.85 EPS for the quarter, hitting analysts’ consensus estimates of $0.85. The business had revenue of $244.40 million for the quarter, compared to analyst estimates of $242.33 million. Novanta had a net margin of 6.52% and a return on equity of 15.20%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the company posted $0.85 earnings per share. Equities research analysts forecast that Novanta Inc. will post 3.03 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Robert W. Baird decreased their price target on Novanta from $175.00 to $169.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th.

Hedge Funds Weigh In On Novanta

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in Novanta by 33.1% during the third quarter. GAMMA Investing LLC now owns 237 shares of the technology company’s stock worth $42,000 after buying an additional 59 shares during the period. Essex Investment Management Co. LLC lifted its stake in shares of Novanta by 0.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 23,379 shares of the technology company’s stock worth $4,183,000 after purchasing an additional 80 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Novanta by 2.6% during the 2nd quarter. Bank of Montreal Can now owns 3,598 shares of the technology company’s stock worth $599,000 after purchasing an additional 90 shares during the last quarter. Victory Capital Management Inc. grew its stake in Novanta by 1.3% in the second quarter. Victory Capital Management Inc. now owns 7,526 shares of the technology company’s stock valued at $1,228,000 after purchasing an additional 99 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in Novanta by 38.3% in the second quarter. Signaturefd LLC now owns 361 shares of the technology company’s stock worth $59,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Novanta Company Profile

Novanta Inc, together with its subsidiaries, provides precision medicine and manufacturing, medical solutions, and robotics and automation solutions in the United States and internationally. The company operates through three segments: Precision Medicine and Manufacturing, Medical Solutions, and Robotics and Automation.